Hamilton Insurance Group, Ltd. (NYSE:HG) Insider Sells $142,740.00 in Stock

Key Points

• Insider Alexander James Baker sold 6,000 shares of Hamilton Insurance Group for $142,740, reducing his ownership by 4.90% to 116,338 shares.
• Hamilton Insurance Group reported $1.55 earnings per share, significantly exceeding the consensus estimate of $1.01, with a quarterly revenue of $712.03 million.
• Brokerages have raised price targets for the stock, with Barclays setting a new price objective of $25.00 and Wells Fargo raising theirs to $26.00, indicating positive market sentiment.

Hamilton Insurance Group, Ltd. (NYSE:HG - Get Free Report) insider Alexander James Baker sold 6,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $23.79, for a total value of $142,740.00. Following the transaction, the insider owned 116,338 shares in the company, valued at $2,767,681.02. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hamilton Insurance Group Price Performance

NYSE HG traded up $0.50 during trading hours on Thursday, reaching $24.46. 635,921 shares of the company's stock were exchanged, compared to its average volume of 513,792. The firm has a fifty day moving average of $21.39 and a 200-day moving average of $20.27. Hamilton Insurance Group, Ltd. has a one year low of $16.80 and a one year high of $24.54. The company has a current ratio of 0.69, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.48 billion, a PE ratio of 6.76 and a beta of 0.81.

Hamilton Insurance Group (NYSE:HG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.54. Hamilton Insurance Group had a return on equity of 13.27% and a net margin of 14.67%. The firm had revenue of $712.03 million for the quarter, compared to the consensus estimate of $519.50 million. On average, equities research analysts predict that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on HG. Wall Street Zen upgraded Hamilton Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BMO Capital Markets restated a "market perform" rating and set a $23.00 price target on shares of Hamilton Insurance Group in a research note on Thursday, June 5th. Barclays upped their price objective on Hamilton Insurance Group from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company upped their price objective on Hamilton Insurance Group from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Citigroup assumed coverage on Hamilton Insurance Group in a research note on Wednesday. They issued a "neutral" rating and a $25.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in Hamilton Insurance Group by 295.1% during the 4th quarter. Sterling Capital Management LLC now owns 1,517 shares of the company's stock worth $29,000 after buying an additional 1,133 shares during the period. Amalgamated Bank raised its stake in Hamilton Insurance Group by 92.2% during the 1st quarter. Amalgamated Bank now owns 1,428 shares of the company's stock worth $30,000 after buying an additional 685 shares during the period. CWM LLC raised its stake in Hamilton Insurance Group by 172.6% during the 1st quarter. CWM LLC now owns 1,698 shares of the company's stock worth $35,000 after buying an additional 1,075 shares during the period. Flaharty Asset Management LLC acquired a new stake in Hamilton Insurance Group during the 1st quarter worth $62,000. Finally, Ameritas Investment Partners Inc. raised its stake in Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company's stock worth $99,000 after buying an additional 585 shares during the period. Institutional investors and hedge funds own 29.17% of the company's stock.

About Hamilton Insurance Group

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.